Home price index (HPI) May 2021, Willowdale Toronto

Willowdale East and West residential Home Price Index (HPI) report, May 2021

This report contains two sections home price index for one-story detached single-family and two-story detached single-family for (1) Willowdale East and (2) Willowdale West. The home price index is an important parameter to track price trends in a specific market.

​​Brief Summary

• The source of data provided in this article is from Multiple Listing Service (MLS®)
• The data presented here as a The Base Year (also referred to as Base Period) of 2005

The May 2021 Willowdale MLS® HPI value stats compare to the base year 2005 indicate:

Willowdale East detached homes HPI values:

One story

May 2020: 347% increase from base year 2005
April 2021: 394%  (Increase of 47% from May 2020)
May 2021: 388%  (Increase of 41% from May 2020 but decrease of 6% from April 2021)

Two story

May 2020: 310% increase from base year of 2005
April 2021:  346% (increase of 36% from May 2020)
May 2021: 349% (Increase of 39% from May 2020 and  Increase of 3% from April 2021)

Willowdale West detached homes HPI values:

One story

May 2020: 340% increase from base year 2005
April 2021: 404% (Increase of 64% from May 2020)
May 2021: 408% (Increase of 68% from May 2020 and  Increase of 4% from April 2021)

Two story

May 2020: 328% increase from base year 2005
April 2021: 375% (Increase of 47% from May 2020)
May 2021: 368% (Increase of 40% from May 2020 and decrease of 7% from April 2021)


​Section (1) of this report focuses on HPI values (a) one story single family and (b) two story single family homes for both Willowdale East and West.

​Willowdale East, Red: 1 story detached Single Family, Blue: 2 Story detached single family

The above Graph (1) shows the HPI from the base period 2005 to March 2021 for Willowdale East. The HPI value reached to its highest May 2017. You may notice the big difference between the one-story and two-story, from early one one story-house has appreciated more than the two-story homes. The HPI value quickly drops by later 2017 and early 2018. The HPI value has been increasing dramatically from the beginning of 2021 but it has not reached to all time high of 2017. 

​​Willowdale East,​ Red: 1 story detached Single Family, Blue: 2 Story detached single family

The above Graph (1a) is identical to Graph 1 except only 2020 to 2021 is shown.

Willowdale East detached homes HPI values:

One story

May 2020: 347% increase from base year 2005
April 2021: 394%  (Increase of 47% from May 2020)
May 2021: 388%  (Increase of 41% from May 2020 but decrease of 6% from April 2021)

Two story

May 2020: 310% increase from base year of 2005
April 2021:  346% (increase of 36% from May 2020)
May 2021: 349% (Increase of 39% from May 2020 and  Increase of 3% from April 2021)

​You notice the sharp increase in HPI value starting 2021, and the one-story detached. One-story detached home shows a drop of 6% from the last month April 2021. Two-story shows a modest increase of 3% from last month April 2021. The value gap between one-story and two-story is still big but one-story detached seems to lose value and this gap may get smaller.

​Willowdale West​, Red: 1 story detached Single Family, Blue: 2 Story detached single family

​The above Graph (2) shows the HPI from the base period 2005 to May 2021for Willowdale West. The HPI value is the highest for May 2017. The HPI value quickly drops by later 2017 and early 2018. The value has been increasing dramatically from the beginning of 2021 but has not reached the high value of 2017.

​Willowdale West, Red: 1 story detached Single Family, Blue: 2 Story detached single family
The above Graph (1a) is identical to Graph 1 except only 2016 to 2021 is shown.
​
Willowdale West detached homes HPI values:

One story

May 2020: 340% increase from base year 2005
April 2021: 404% (Increase of 64% from May 2020)
May 2021: 408% (Increase of 68% from May 2020 and  Increase of 4% from April 2021)

Two story

May 2020: 328% increase from base year 2005
April 2021: 375% (Increase of 47% from May 2020)
May 2021: 368% (Increase of 40% from May 2020 and decrease of 7% from April 2021)
​
You notice the sharp increase in HPI value starting in 2021. You may see by the start of 2021, the one-story detached home price is increasing faster rate  than the two-story detached. One-story homes show appreciation from March to May 2021, but two story-homes show a strong 7% reduction in value. However one-story detached is still shows a strong 4% increase value.

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Author

The above Real Estate article was provided by David Khosravi, a leader in his field in North York, Willowdale Real Estate, Reach out to David via email: drdavidkg@gmail.com or by phone: 416.990.2424
Are you thinking of selling your home? I will be glad to share my marketing strategies with you.